Telepath revs up with funding deal

AN ambitious fleet management software developer and consultancy is on track to growth after agreeing a £500,000 funding deal.

Salford-based Telepath, founded two years ago by experienced industry professional Carolanne Hurley, has received a £500,000 investment from The North West Fund for Venture Capital, managed by Enterprise Ventures.
 
The 10-strong SME’s software allows operators to analyse and improve the efficiency of their fleets. Its use of telemetrics – tracking date -provides greater flexibility than current products on the market.

Miss Hurley, who started Telepath using her own investment, said: “While there are many companies providing telematics systems, Telepath offers a different approach. We regard ourselves as a fleet and personnel consultancy, rather than a telematics business, as we take data and translate it into business information to show our customers how to improve efficiency and reduce cost.”
 
As part of the investment, Telepath has appointed Jonathan Firth as non-executive Chairman. Mr Firth has had senior roles in a number of tech businesses.
 
Will Clark, investment director with Enterprise Ventures, said: “Telepath’s systems allow operators to monitor a whole range of factors, from the extent of harsh braking or acceleration to accident trends, fuel efficiency, idling and vehicle downtime. The business has already gained traction with major operators in international markets. The funding will help it to further develop its presence in the UK market.”